XRP Keeps Climbing Despite the $2b Penalty

Yesterday, April 22nd, crypto traders and holders noticed that XRP's price moved above $0.50 despite the $2b penalty imposed on them by the SEC.
Was the penalty supposed to make XRP fall? You might have answered yes. But the main thing you should consider is what will make XRP fall.

For a token to fall, there must be a lot of loss in value in the coin's tokenomics. By this, I mean that $2 billion is a lot of money to burn on a particular case.

Supposing that money was paid immediately, we can conclude that XRP will experience a fatal bear attack.

Read on to have a full comprehension of this crypto headline.

Ripple Set to File a Response to SEC Demand for a $2B Fine

The Ripple (XRP) team is in the process of filing a response to the SEC's penalty demand.

However, we do not know the exact content of this response as its release is pending until Wednesday.

Though confidential at the moment, some parts of the response might come out to the public before the intended release date.

Those holding XRP are currently anticipating Ripple's response, as the recent developments around the lawsuit serve as a key driver affecting the price of this altcoin.

The opposition brief from the Ripple team is seen as one of their last chances to defend themselves from the possibility of a penalty.

Brad Garlinghouse, the CEO of Ripple, expressed a positive feeling about the result of the case in a recent interview with Fox Business.

That is all about the latest news on XRP's case with the SEC. If there is anything I have not included here, please do well to share it with us in the comment session below.

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